Friday, April 4, 2008

Free Fall Friday - All of Portland?

At least one Realtor blog is now predicting a decline in prices for the Portland metro area in March. "Portland Home Prices Finally Fall in March"

I have some doubts about his methodology, but I give them props for going on record as predicting a decline, and I imagine they will soon be run out of town by the Portland NAR.

4 comments:

Anonymous said...

Jeffrey Kempe is reporting a rise in prices from the March data.

Patient Renter said...

We've found that the NAR has a worse bark than bite. Once the tide has turned and everyone knows it, they'll get quiet.

skeptictank said...

We've found that the NAR has a worse bark than bite. Once the tide has turned and everyone knows it, they'll get quiet.

Oh, I doubt they're going to shutup. No, they'll still be cheerleading, but fewer and fewer people are believing the hype.

Bob said...

I have been coached by Jeff about methodology: I need to back out listings that have been canceled and withdrawn from the inventory estimates, and that I omitted a couple of regions. Also there are transactions that will be included in March numbers, but not posted on March 31 when I pulled data. I have not had a chance to dive back into the data since I received this counsel, but it looks like the impact is that we will report prices being slightly up instead of slightly down. Inventory differences will be much larger – essentially flat from February.

I think I will leave the predicting to Jeff.